Do Kwon hiding in Serbia, claim Prosecutors
South Korean prosecutors claim that the founder and CEO of Terraform Labs, Do Kwon, is hiding in Serbia. They believe he left Singapore a couple of months earlier and moved to Serbia.
Do Kwon is hiding as he was charged with a breach of financial laws. He is involved in the controversial collapse of the Terra ecosystem that startled the market. However, the global manhunt for the crypto fugitive is still going on.
A report by Chosun Media says that the investigation authorities have stated that they received intelligence about his whereabouts in Serbia. They investigated further and “found it to be true".
Do Kwon hiding: South Korean authorities seek cooperation
The South Korean investigation authority is already seeking to cooperate with the Serbian government. The Chosun Media report also suggests that the Financial and Securities Criminal Unit of Seoul Southern District Prosecutor will request assistance from Serbian officials.
The authorities have yet to discover why Do Kwon left for Serbia. They believe it is only to avoid investigation and prosecution.
The notorious figure in the crypto industry earlier moved to Singapore just before Terra-Luna collapsed. In September, Seoul’s prosecutors issued red warrants for his arrest. The charges included breaching capital market regulations and also giving false information to investors.
Since then, his whereabouts have not been known. The Korean authorities are yet to track down the fugitive's exact location. In October, they found out that he had left Singapore. He is believed to fly to Dubai and then to an unknown country. Singaporean officials also confirmed this news.
In October, South Korea's Ministry of Foreign Affairs issued a warrant to surrender his passport. However, they have yet to get a response. Meanwhile, on Twitter, he maintained that he was not trying to hide.
Author: Wasay Ali
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